Prime Finance is Business Insider’s midday summary of the top stories of the past 24 hours.
To sign up, scroll to the bottom of this page and click ‘Get updates in your inbox.
David Einhorn, the founder of hedge fund Greenlight Capital, sent Business Insider his most important chart of 2015.
The Martin Shkreli saga continues. The controversial former hedge funder has been fired as CEO of KaloBios Pharmaceuticals and resigned from his position on its board. He said over the weekend that he was arrested because of his much-criticised drug-price hikes.
In other news, Norges Bank Investment Management, the $824 billion sovereign wealth fund, sent a letter to the Securities and Exchange Commission supporting
IEX Group, the stock-trading venue at the center of Michael Lewis’ book “Flash Boys.”
And hedge fund Citadel published a Q&A on the movie business, explaining, among other things, why Yoda would make a great investor.
Here are the top Wall Street headlines at midday –
This infamous tech banker made an estimated $1 million an hour on a deal – Frank Quattrone is as controversial as ever.
Former UBS trader Tom Hayes’ appeal against his LIBOR rigging conviction was rejected – Tom Hayes, the former UBS trader sentenced to 14 years in jail for his role in the LIBOR rigging scandal, just had his appeal against his conviction rejected. However, he did get his sentence shortened by three years.
The stock market’s breadth is unusually shallow – The S&P 500 is down modestly since the beginning of the year. Through Friday, the 500-component index is down 2% in 2015. However, it would be doing much worse had it not been for the heavy lifting of some mega-cap stocks.
Here is how hedge fund giant Citadel predicts Hollywood hits – “Star Wars: The Force Awakens” debuted on Friday and shattered box-office records.
Here are the best charts about the markets and economy we saw in 2015 – We’ve collected all of these charts from the smartest analysts and a few of our own design. Each chart is accompanied by the headline of the day, a snippet from the story to refresh your memory, and a link so you check out the full post.
This amazing Goldman Sachs chart shows how tech companies have come to dominate the world – 2015 marked the first time the top three largest companies in the world were all technology firms.
The biggest names on Wall Street are weighing in on the big recession question – For a long time, Wall Street was focused on rates, and when the Federal Reserve would put an end to the zero-interest-rate-policy era. Now the focus is switching to another R-word: recession.
Elsewhere on the web –